Yu (Essar) partners with Equity Bank to use YuCash service
YuCash users who hold bank accounts with Equity Bank can now conveniently deposit and transfer cash between their bank accounts and YuCash accounts using their mobile phones. This partnership aims to establish a connection between Yu subscribers and YuCash, the mobile money transfer service, with their savings or current accounts at Equity Bank. This collaboration follows Equity Bank's similar agreement with Safaricom to offer Mpesa users access to comparable services through Mkesho.
Through this service, customers using YuCash can not only transfer funds between their YuCash accounts and Equity Bank accounts but also perform intrabank cash transfers within Equity Bank accounts and interbank cash transactions between Equity Bank and other local commercial banks. This partnership introduces mapped accounts, enabling customers to seamlessly transfer funds directly between their YuCash and Equity Bank accounts using their cell phones.
Moreover, this collaboration enhances the ease of sending and receiving cash across different local mobile network operators. Both Mpesa and YuCash now support cash transfers to and from Equity Bank, enabling further cash transfers between Mpesa and YuCash services through Equity Bank.
YuCash is poised to establish itself as a prominent solution provider in the mobile banking services sector, following in the footsteps of Mpesa and Airtel Money, which have successfully incorporated utility bill payments through mobile phones.
Equity Bank aims to bridge the gap between banked and unbanked customers, contributing to social financial inclusion and supporting poverty alleviation efforts. The system powering this service utilizes cutting-edge technology acquired from global industry leaders such as Obopay.
Using the service is straightforward. Equity Bank customers with individual current or savings accounts can sign a YuCash Mapped Bank Account Request, which will be promptly approved. Customers with a Linked Bank Account, on the other hand, only need to have a YuCash account and sign the Linked Bank Account request form to access the service.
Through this service, customers using YuCash can not only transfer funds between their YuCash accounts and Equity Bank accounts but also perform intrabank cash transfers within Equity Bank accounts and interbank cash transactions between Equity Bank and other local commercial banks. This partnership introduces mapped accounts, enabling customers to seamlessly transfer funds directly between their YuCash and Equity Bank accounts using their cell phones.
Moreover, this collaboration enhances the ease of sending and receiving cash across different local mobile network operators. Both Mpesa and YuCash now support cash transfers to and from Equity Bank, enabling further cash transfers between Mpesa and YuCash services through Equity Bank.
YuCash is poised to establish itself as a prominent solution provider in the mobile banking services sector, following in the footsteps of Mpesa and Airtel Money, which have successfully incorporated utility bill payments through mobile phones.
Equity Bank aims to bridge the gap between banked and unbanked customers, contributing to social financial inclusion and supporting poverty alleviation efforts. The system powering this service utilizes cutting-edge technology acquired from global industry leaders such as Obopay.
Using the service is straightforward. Equity Bank customers with individual current or savings accounts can sign a YuCash Mapped Bank Account Request, which will be promptly approved. Customers with a Linked Bank Account, on the other hand, only need to have a YuCash account and sign the Linked Bank Account request form to access the service.